CP in August, 2025 : 505 USD/t (- 55 USD from July)
C3 : USD 520 (- 55 USD from July) / C4 : 490 (- 55 USD from July)
The Far East has entered a period of extreme summer heat, marking the beginning of the low-demand season for LPG. As a result, the August CP saw a significant drop.
The temporary easing of retaliatory tariffs between the US and China remains in effect, and we are observing signs that China is gradually resuming purchases of US-origin LPG. This shift has led to higher inventories of Middle Eastern LPG in the region. Additionally, naphtha prices have reversed course for the first time in two months, contributing to a notable decline in butane demand for petrochemical use. WTI crude prices also softened slightly, with the July average falling by approximately $0.5 per barrel compared to June. Looking ahead, our view is that CP levels may continue to decline in September, given that the heatwave in the Far East is expected to persist and OPEC+ is signaling a possible acceleration in easing crude oil production cuts from August onward. (Reference Material：Eneos Weekly Report, Astomos Energy Monthly Report, EIN, RIM)
※Our view is only our opinion and do not guarantee CP trends in the future.
